Market Updates

S&P Daily Pre-Market Prep 10/3/16

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Still indecisive and still waiting for a break so that we can have some more predictable action. There's really not much to play off from a longer term perspective until we can get out of this range.

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On a weekly basis, we are above last weeks value, so we could find some buyers if we move down to there (2155.50) and then bounce up off it. So an eye on that.
 
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Other than that and an eye on Fridays levels, I'm playing "wait and see" and to scale into a trade when (if) the market puts in a run.

Plan
- on the lookout for a break out of the range (it'll happen some time)
- an ear on the news in case something happens with DB (seems the fine is going down)
- no bias - just looking to take advantage of momentum on a short term moves that occur before we finally breakout

Weekly Numbers
Range 2132.75 -> 2168.25
Value 2138.50 -> 2155.50
S1 - 2139.25, R1 - 2174.75

Daily Numbers
Range 2135.75 /2150.50 -> 2168.25
Value 2157.75 > 2168.25
Globex 2157.75 -> 2164

Upper Range - 2158.75-2184,

Settlement – 2160.50

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75
 
 

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Posted by Peter Davies on October 03, 2016
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